L&L Holding Co., along with Pritzker Prize-winning architect Norman Foster and its project partners, celebrated the grand opening of 425 Park Ave. in the Plaza District.
Developed by L&L Holding along with its co-equity partner and co-developer Tokyu Land Corporation and co-managing partner BentallGreenOak, 425 Park is the first full-block office development to be completed on Park Avenue in half a century.
L&L selected Foster + Partners to design 425 Park in 2012 at the conclusion of an international architecture competition. Working with L&L, Foster designed a tapered tower divided into three distinct volumes: a base that is knitted into the urban grain, a recessed central section and a slender formation of premium upper floors. The sections are separated by two dramatic triple-height diagrid floors with the uppermost serving as The Diagrid Club amenity and wellness center. The 47-story tower rises 897 feet to the top of three curated, illuminated ornamental fins perched above a 38-foot-tall penthouse floor. At street level, 425 Park boasts a 45-foot tall grand lobby accented by stone flooring, interior glass walls, modern lighting and state-of-the-art elevator systems.
“From day one, we viewed 425 Park as a once-in-a-lifetime opportunity – and an awesome responsibility – to create a tower of enduring value that would stand proudly alongside the Plaza District’s architectural masterpieces,” said L&L Chairman and CEO David W. Levinson. “Working with our assembled team of visionaries in the fields of architecture, engineering, hospitality, human wellness and the arts, we have created the ultimate office environment in both form and function.”
L&L has already leased 85% of the 670,000-square-foot tower to technology-driven finance and investment firms, including Citadel, with 415,400 square feet across 20 floors. Other prominent tenants include investment management firms Wafra Capital Partners and Maverick Capital, private equity firms Hellman & Friedman and GTCR and healthcare real estate investment trust Medical Properties Trust.
Built to LEED Gold standard, 425 Park recently earned Well Core certification at the Gold level.
